Scotiabank Issues Positive Forecast for SL Green Realty (NYSE:SLG) Stock Price

SL Green Realty (NYSE:SLG) had its target price lifted by equities research analysts at Scotiabank from $52.00 to $53.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective indicates a potential upside of 26.13% from the stock’s previous close.

Several other equities research analysts have also issued reports on SLG. Truist Financial lifted their price target on shares of SL Green Realty from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. Evercore reiterated an “outperform” rating and issued a $46.00 price target on shares of SL Green Realty in a research note on Friday, April 17th. Morgan Stanley lowered their price target on shares of SL Green Realty from $43.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. JPMorgan Chase & Co. lifted their price target on shares of SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a research note on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.20.

SL Green Realty Stock Up 1.4%

SLG stock traded up $0.56 during midday trading on Thursday, hitting $42.02. The company’s stock had a trading volume of 185,123 shares, compared to its average volume of 1,327,903. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 3.03. SL Green Realty has a twelve month low of $34.77 and a twelve month high of $66.91. The company’s fifty day moving average price is $40.23 and its 200 day moving average price is $43.14. The stock has a market capitalization of $3.00 billion, a P/E ratio of -16.73 and a beta of 1.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp grew its position in shares of SL Green Realty by 1.0% in the 2nd quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock valued at $264,636,000 after acquiring an additional 41,873 shares during the period. Alyeska Investment Group L.P. grew its position in shares of SL Green Realty by 25.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,041,226 shares of the real estate investment trust’s stock valued at $139,501,000 after acquiring an additional 617,488 shares during the period. Goldman Sachs Group Inc. grew its position in shares of SL Green Realty by 62.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,918,292 shares of the real estate investment trust’s stock valued at $133,862,000 after acquiring an additional 1,117,357 shares during the period. Cohen & Steers Inc. bought a new position in shares of SL Green Realty in the 4th quarter valued at about $121,675,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of SL Green Realty by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,561,121 shares of the real estate investment trust’s stock valued at $71,609,000 after acquiring an additional 32,779 shares during the period. Institutional investors own 89.96% of the company’s stock.

About SL Green Realty

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.